Ethereum (ETH) Price Analysis: Reversal Pattern Confirmation

Ethereum finally made an upside break above the double bottom reversal pattern previously highlighted. The chart pattern spans $400 to $500 so the resulting climb could be of the same height, possibly taking Ethereum to $600 next.

However, the 100 SMA is still below the longer-term 200 SMA to suggest that the path of least resistance is to the downside. This means that the selloff is more likely to resume than to reverse.

Then again, the gap between the moving averages has narrowed enough to...

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